Hanwha Group headquarters in Seoul / Courtesy of Hanwha Goup

Hanwha Group was named one of the 100 most influential companies by TIME magazine. It is the only Korean business to make it to the list.

According to Hanwha, TIME announced the fourth annual TIME100 Most Influential Companies list on Thursday, spotlighting 100 companies making an extraordinary impact around the world. The list is based on polls of the magazine's contributors and correspondents as well as outside experts.

TIME recognized Hanwha for both its expansion into the global defense industry and strong advances in the renewable energy sector. It highlighted the company's plans to deliver the world's first large-scale, carbon-emission-free liquefied natural gas carrier and noted that "with 90% of goods traded across the ocean, Hanwha's initiative could usher in a future of more sustainable supply chains."

As a comprehensive provider of energy solutions across the entire value chain — from energy production and storage, to transport — Hanwha is driving the energy transition forward with its diverse portfolio of energy solutions and innovations.

Hanwha has also invested $2.5 billion to establish the first end-to-end solar supply chain in the United States, expanding its annual manufacturing capacity for solar modules and their key components to bolster growth in clean energy.